Ikea reports healthy growth as it announces plans to reach nearly half the globe by 2025

Ikea has reported healthy growth in its annual sales as it reveals ambitious expansion plans which will see it reach 3 billion people by 2025.

In the 12 months to August the Swedish flatpack furniture giant saw sales rise 4.5 per cent to €38.8 billion (£33.9 billion).

Though existing store sales remained largely flat during the period, Ikea saw sales from its growing online offering jump 31 per cent, which according to Reuters accounted for around eight per cent of total turnover.